Discussions about digital currencies in some countries. What future for bitcoin?

[n2004al]

The ultra-advanced, superior technology of the digital currency Bitcoin and it's Blockchain public ledger system are in danger of being co-opted.

Taking a quote from your post, a true bitcoiner will be able to differentiate between a real crypto and something which is not, so I don't think in any way these cryptos (whatever they decide to name it) controlled by a central banks will ever become a threat. If centralization means anything, it has to be the first priority on why we chose to move away from fiat going to cryptocurrencies.

Thanks for the comment Q7.

You think that, whatever will be their new invention, it wouldn't be a risk for the bitcoin. This could be true (according to you) even this new invention will be followed by most of the world countries and bitcoin will be banned from all those countries in order to protect their invention (which maybe is not at all similar to bitcoin but is a peer to peer technology product)?

[Mickeyb]

Are there coins (if created) a risk for bitcoin? Can compete bitcoin with these coins which will be supported by the most important Authorities of every country?

They'll be about as much of a threat as Mintchip was.  We already use digital currencies supported by the authorities of every country, it's called having a bank account.  Whatever they end up creating will have literally no perceivable benefit to anyone beyond what we've already got today.  No system with an unlimited monetary supply, central points of failure, and inherent shortcomings with fungibility and censorship (which is exactly what they'll come up with) will look like it's worth anything compared to Bitcoin.  All they can do is create a pale and crippled imitation.  There's no contest.

I completely agree with you. Let me add that banksters and governments are a bunch of greedy idiots. They will not stop. They will realize that their digital tokens give them much more possibility of control than paper money as we know it at the moment. When they realize this, they will go all in and they will make people complete slaves. If ever, people will realize at this moment that their governments are there only to rip the skin off of their backs.

MikeyB thank for your comments.

Before asking something to you I want to tell that I don't see the world such "black" as you.  Even I live in a country which is not to much developed. Our level of corruption here is very high and our politicians (according to me and with few exclusions) are probably the most irresponsible and corrupted people in the world. But I think again that there is good that our money are regulated by our Central Bank and the control of money exist, is managed and controlled by the Central Bank and with other Governmental Agencies. Otherwise all the "black" money will destroy everything here.

Anyhow, I wanted to know from you the answer of the main aim of this thread. What it would be the future of bitcoin if the countries of the main post (and other ones which might follow those in the future) will adopt as a national currency a digital based coin currency and will ban bitcoin to protect their new digital based coin money?

You need to ask Cyprus people is it good when you government takes care of your money. More than half of their money gone. Also you might ask Greek people (the hard working Greek people that have worked over 40 years and woke up one day with half of their savings gone or heavily controlled by their government and unavailable to access to them).

Now your second question. I don't think these governments will ever ban Bitcoin even if they develop their own centralized tokens. Why? This is not how it's done in the real world. If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing. What they will do in my opinion is that they will try and beat us with their centralized solutions. And they will have an advantage in my opinion until their whole debt system doesn't fall apart, which is inevitable!

[gentlemand]

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

[hunnaryb]

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

Agreed. The real issue is trying to really fight the case for  Bitcoin being a serious alternative.

[Mickeyb]

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

I don't think Bitcoin will be banned as well, in any country. I was just speaking figuratively, what if...!!! If they would ban Bitcoin, they could have as well banned Internet 20 years ago!

[n2004al]

Are there coins (if created) a risk for bitcoin? Can compete bitcoin with these coins which will be supported by the most important Authorities of every country?

They'll be about as much of a threat as Mintchip was.  We already use digital currencies supported by the authorities of every country, it's called having a bank account.  Whatever they end up creating will have literally no perceivable benefit to anyone beyond what we've already got today.  No system with an unlimited monetary supply, central points of failure, and inherent shortcomings with fungibility and censorship (which is exactly what they'll come up with) will look like it's worth anything compared to Bitcoin.  All they can do is create a pale and crippled imitation.  There's no contest.

I completely agree with you. Let me add that banksters and governments are a bunch of greedy idiots. They will not stop. They will realize that their digital tokens give them much more possibility of control than paper money as we know it at the moment. When they realize this, they will go all in and they will make people complete slaves. If ever, people will realize at this moment that their governments are there only to rip the skin off of their backs.

MikeyB thank for your comments.

Before asking something to you I want to tell that I don't see the world such "black" as you.   Even I live in a country which is not to much developed. Our level of corruption here is very high and our politicians (according to me and with few exclusions) are probably the most irresponsible and corrupted people in the world. But I think again that there is good that our money are regulated by our Central Bank and the control of money exist, is managed and controlled by the Central Bank and with other Governmental Agencies. Otherwise all the "black" money will destroy everything here.

Anyhow, I wanted to know from you the answer of the main aim of this thread. What it would be the future of bitcoin if the countries of the main post (and other ones which might follow those in the future) will adopt as a national currency a digital based coin currency and will ban bitcoin to protect their new digital based coin money?

You need to ask Cyprus people is it good when you government takes care of your money. More than half of their money gone. Also you might ask Greek people (the hard working Greek people that have worked over 40 years and woke up one day with half of their savings gone or heavily controlled by their government and unavailable to access to them).

Now your second question. I don't think these governments will ever ban Bitcoin even if they develop their own centralized tokens. Why? This is not how it's done in the real world. If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing. What they will do in my opinion is that they will try and beat us with their centralized solutions. And they will have an advantage in my opinion until their whole debt system doesn't fall apart, which is inevitable!

I don't want to deviate the aim of this thread so I will be very short about this theme. But I cannot stay without writing something about it because it is an clear case of corruption and cheating that merit some words.

I don't know the Cyprus case but I know very well the Greek case. You are in big wrong about the crisis in Greece. The money of the Greeks are all money have from Europe and not money of the Greeks. They have live for the years you mention not with their hard work but with the credits taken from the Europe. They cheat (giving false financial data) to enter in Eurozone only to have the possibility to have credits without limits and without conditions. And so it was. They entered in Eurozone and had money without end as credits. Their level of life was increased with those money. No one person in Europe (maybe even in the world) have the retirement at 57 years like the Greeks. No one have 14 or 15 monthly salaries in one year. No one church in Europe have such privileges and money that have the orthodox church from the Greek state. I can continue with to many privileges that the Greeks benefited with the money of the others. The only resource of Greece is tourism and with tourism no one can have such life. And at the end this is a long story. It is not the first time that Greeks are in such situation. During their story are other stories like this. Read here for more:

http://finance.yahoo.com/news/a-brief-history-of-financial-crises-in-greece-214114194.html

And the shameful problem they have is that they don't want to give back the money to the owners. For this has voted more than 60% of those. This is the maximum. Then accepted (after the referendum) a plan much more severe than the previous one for which has voted to not pay. Why? Because were in wrong and no one forgive its money. Europe want its money given to them.

I can find other sources more detailed about the Greeks crisis and their habits but as I told in the beginning this thread has another aim. So I will not answer more about this problem here. You can learn more if you have the patience to do a search in my posts. Or create another thread yourself about this topic.

[DeepMix]

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

I don't think Bitcoin will be banned as well, in any country. I was just speaking figuratively, what if...!!! If they would ban Bitcoin, they could have as well banned Internet 20 years ago!

In essence Bitcoin was 'banned' already before it became more well accepted and adopted by others.

Makes more sense for governments to introduce their own alternatives to undermine Bitcoin.

[ashour]

The ultra-advanced, superior technology of the digital currency Bitcoin and it's Blockchain public ledger system are in danger of being co-opted.

Taking a quote from your post, a true bitcoiner will be able to differentiate between a real crypto and something which is not, so I don't think in any way these cryptos (whatever they decide to name it) controlled by a central banks will ever become a threat. If centralization means anything, it has to be the first priority on why we chose to move away from fiat going to cryptocurrencies.

Yes but mainstream people who are not tech savvy can't tell the difference between bitcoin a government issued cryptocurrency.

[n2004al]

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

Agreed. The real issue is trying to really fight the case for  Bitcoin being a serious alternative.

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

I don't think Bitcoin will be banned as well, in any country. I was just speaking figuratively, what if...!!! If they would ban Bitcoin, they could have as well banned Internet 20 years ago!

Well. For all you three I have a bad news. One of the countries about which is written in the main post has already banned bitcoin. This is Russia, which, without waiting for the creation of its bitruble has banned our coin. What are your comments about this news which is in opposite with your convictions?

For more not only Russia but even other 7 other countries has banned as well bitcoin. Those are: Bangladesh, Bolivia, Ecuador, Indonesia, Kyrgyzstan, Thailand and Vietnam. And its status is "restricted" in other three countries (on of them with the same importance as Russia). Those are China, Taiwan and Iceland. If every country will follow those (especially later and when they probably will or can have its national digital coin currency) what will happen with bitcoin? Give me your opinions.

There are signs that even China is prompted to regulate it. There is a thread in this section about this: For more: https://bitcointalk.org/index.php?topic=1207161.0

For more about the legal status of bitcoin in some other countries (the countries where is allowed) everyone can read here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

It is supposed that the other countries which are not in the list of above link ignore bitcoin. Are absolutely the majority of the world countries. Only other 31 country have and give data about it. In those country bitcoin is allowed and is regulated. This situation can give an idea in which points is the known (and the real "power") of bitcoin in all the world.

[n2004al]

If you ban Bitcoin, then Bitcoin will become forbidden fruit and people will want it even more in my opinion. This will just give a sign to the world that we are doing the right thing.

Not that I think a ban will ever happen, but who would want a form of money that can't be spent or accepted? Bitcoin isn't drugs. It's not fun or addictive or profitable regardless of legality. It serves a purpose. Banning it stifles that purpose and people will move on. They're not short of alternatives right now.  

I don't think Bitcoin will be banned as well, in any country. I was just speaking figuratively, what if...!!! If they would ban Bitcoin, they could have as well banned Internet 20 years ago!

In essence Bitcoin was 'banned' already before it became more well accepted and adopted by others.

Makes more sense for governments to introduce their own alternatives to undermine Bitcoin.

The ultra-advanced, superior technology of the digital currency Bitcoin and it's Blockchain public ledger system are in danger of being co-opted.

Taking a quote from your post, a true bitcoiner will be able to differentiate between a real crypto and something which is not, so I don't think in any way these cryptos (whatever they decide to name it) controlled by a central banks will ever become a threat. If centralization means anything, it has to be the first priority on why we chose to move away from fiat going to cryptocurrencies.

Yes but mainstream people who are not tech savvy can't tell the difference between bitcoin a government issued cryptocurrency.

Thanks for your intervention DeepMix and Ashour.

Can you comment more about what it will be the future of bitcoin if it will be banned from most or the majority of the countries because of introduction (if it will be so) of their national digital coin currency? Naturally if you want or have something to write .    

This is the main aim of this thread. It is written even in its title.